EL DORADO HILLS, Calif., April 21, 2011 /PRNewswire/ — When the last child has moved out of the house, many “empty nesters” question if maintaining a life insurance policy is necessary.  Before cancelling or reducing your insurance coverage, take some time to re-evaluate how your circumstances have changed, and consider what your future needs may be.

“Many empty nesters are faced with financial obligations, such as the mortgage on a home or second home, and could be financially devastated if a spouse dies or becomes disabled,” said insurance expert Gary Lardy, CEO of IntelliQuote.

If the unthinkable happens so close to retirement, you may be forced to work long into your golden years.  Marvin H. Feldman, CLU, ChFC, RFC, President and CEO of the Life Foundation (www.lifehappens.org) recently posted, “Researchers are telling us that the expected retirement age for U.S. workers is rising and that people are planning on working longer, as opposed to saving more.”

CHRISTINE DUGAS
USA Today

As American families are struggling to pay their bills, it’s not surprising that many are putting off life insurance. Individual life insurance hit a 50-year low last year, according to LIMRA, an industry-sponsored group.

But during tough economic times, people should not sit back and think they’re immortal, says Gordon Bernhardt, a fee-only financial planner in McLean, Va.

The sudden death of a working parent could force the surviving spouse to make up for the loss of household income. And life insurance can be twice as important for a single parent.

For full article, visit: Not a good time to drop life insurance, experts say

BOSTON & LONDON, Nov 29, 2010 (BUSINESS WIRE) — State Street Corporation(STT 43.32, -0.52, -1.19%), one of the world’s leading providers of financial services to institutional investors, today released its latest Vision paper examining the opportunities and challenges facing the life insurance industry. Entitled “Life Insurance: Focused on Growth,” the report assesses the current life insurance landscape and highlights growing changes in client needs. It also explores solutions to the urgent challenges the life insurance industry is experiencing as demographics shift and markets evolve. This new Vision paper follows State Street’s initial report on the insurance industry published in 2007.

“Around the globe, retirement savings needs are rapidly changing and a new lifetime savings industry based on a more holistic, lifelong approach is taking shape to meet those needs,” said Wade McDonald, head of client management and sales for State Street’s Global Services business in the UK, Middle East and Africa. “To compete effectively in this new environment, life insurers must look holistically at product offerings and develop financial products that deliver performance, manage risk, and provide value. Both banks and insurers will be actively involved in developing new approaches to address the challenges that the industry faces.”

The need to develop the appropriate solutions for this new environment is sparking an evolution in life insurance product development.

The Vision paper states, “In the emerging environment, the first priority for insurers is to make products that consumers want and need, and deliver them in the right way. The products offered must evolve to reflect a holistic approach to financial planning that answers a lifetime of needs and they must be accessible in a way that acknowledges the changes in how products are purchased today.”

Life insurers face significant operational implications as the industry landscape changes. With new regulatory requirements, managing the liability side more carefully and improving risk management are key priorities. Insurers must also clearly distinguish core and non-core business activities.

According to the Vision paper, “Against the backdrop of demands on optimization of capital and a redefinition of the value chain, insurers must first more closely examine what business activities are “core” and “non-core,” and actively seek to outsource those elements that are not core to the business.”

State Street’s Vision Series of in-depth reports is intended to advance understanding of key themes and trends in the financial services industry. A copy of this life insurance paper can be downloaded at www.statestreet.com/vision or to order a hard copy, email vision@statestreet.com. Previous papers in State Street’s Vision series address a range of topics, including pensions, UCITS IV, sovereign wealth funds and exchange-traded funds.

About State Street

State Street Corporation (STT 43.32, -0.52, -1.19%) is one of the world’s leading providers of financial services to institutional investors, including investment servicing, investment management and investment research and trading. With $20.2 trillion in assets under custody and administration, and $1.9 trillion in assets under management at September 30, 2010, State Street operates in 25 countries and more than 100 geographic markets worldwide. For more information, visit State Street’s website at www.statestreet.com.

SOURCE: State Street Corporation

DUBLIN–(BUSINESS WIRE)–Research and Markets has announced the addition of the “2011 U.S. Life Insurance Carriers Industry Report” report to their offering.

The Life Insurance Carriers Industry report, published annually, contains timely and accurate industry statistics, forecasts and demographics. The report features 2011 current and 2012 forecast estimates on the size of the industry (sales, establishments, employment) nationally and for all 50 U.S. States and over 900 metro areas. New to the report this year are: financial ratios, number of firms and payroll estimates. The report also includes industry definition, 5-year historical trends on industry sales, establishments and employment, a breakdown of establishments, sales and employment by employee size of establishment (9 categories), and estimates on up to 10 sub-industries, including fraternal life insurance organizations, mutual association life insurance, and life insurance agents.

Please note, this report offers statistical information only and does not include an analysis of the figures.

Key Topics Covered:

• Users’ Guide
• Industry Definition and Related Industries
• Industry Establishments, Sales & Employment Trends
• Industry Ratios
• Establishments, Firms & Payroll
• Sub-Industries – 2010 Estimated Industry Sales ($Millions)
• Sub-Industries – 2010 Estimated Number of Establishments
• Sub-Industries – 2010 Estimated Number of Employees
• 5-Year Trend – Estimated Industry Sales ($Millions)
• 5-Year Trend – Estimated Number of Establishments
• 5-Year Trend – Estimated Number of Employees
• 2011 U.S. States – Estimated Number of Establishments
• 2011 U.S. States – Estimated Industry Sales ($Millions)
• 2011 U.S. States – Estimated Number of Employees
• 2012 U.S. States – Estimated Number of Establishments
• 2012 U.S. States – Estimated Industry Sales ($Millions)
• 2012 U.S. States – Estimated Number of Employees
• 2011 U.S. Metropolitan Areas – Estimated Number of Establishments
• 2011 U.S. Metropolitan Areas – Estimated Industry Sales ($Millions)
• 2011 U.S. Metropolitan Areas – Estimated Number of Employees
• 2012 U.S. Metropolitan Areas – Estimated Number of Establishments
• 2012 U.S. Metropolitan Areas – Estimated Industry Sales ($Millions)
• 2012 U.S. Metropolitan Areas – Estimated Number of Employees
• Definitions and Terms

For more information visit:

http://www.researchandmarkets.com/research/00b292/2011_u_s_life_ins

http://www.wholesaleinsurance.net/

BLOOMINGTON, Ill., Sept. 29 /PRNewswire/ — A new State Farm Life Insurance Company survey shows that since the economic downturn in 2008 and the uncertainty it has created for people’s finances, a majority of people say life insurance is more important than it was two years ago. However, 74 percent of couples say they rarely or never discuss the topic. The survey found that talking about life insurance is particularly difficult for men and women who are primary earners for the family. These respondents say key reasons for avoiding the topic include stress over daily economic pressures and concern that a partner might react negatively – especially in the event of a job loss.

The survey, conducted by KRC Research, shows that among couples who are unlikely to discuss life insurance, the topic is especially concerning for women when faced with the prospect of becoming the primary earner for the family. When asked about why they would not initiate a conversation about life insurance, respondents cited financial stress as very or somewhat important. Women were significantly more likely to remain silent with 64 percent saying they would be too stressed to initiate a conversation with their spouse. This compares with 47 percent of men faced with the prospect of being the sole breadwinner.

“This survey shows that, at a time when couples should be sitting down to discuss how to prepare for the unexpected, far too many remain silent,” said Joe Monk, senior vice president and chief administrative officer, State Farm Life Insurance. “As awkward as it can be to discuss the potential death of a family member, an uncomfortable discussion today can prevent a devastating financial impact tomorrow.”

Avoiding the Awkward Conversation

In the survey, 62 percent of men and women said that given the economic downturn and the uncertainty it has created for finances, having life insurance is much or somewhat more important than it was two years ago. At the same time, the survey found that these economic pressures along with concerns over a partner’s reaction are important reasons why many couples are avoiding the topic entirely.

This is especially true for men and women faced with the prospect of becoming primary income earners for the family. When asked about why they would not initiate a conversation about life insurance, they cited the following factors as very or somewhat important:

• Seventy-four percent said that avoiding the conversation comes from the pressure of meeting immediate household financial needs as the sole income earner.
• Fifty-one percent of respondents answered that should a partner lose a job, that time would not be the best to bring up a subject that might make them feel even worse.

But despite economic pressures, most people in the survey still indicated that having insurance coverage for someone at home caring for children is just as important as someone earning an income. According to the survey, 85 percent of respondents strongly or somewhat agreed that life insurance is just as critical for a spouse or partner who stays at home and cares for children as it is for the spouse or partner who is the primary income earner.

Earlier this year, a study by the research firm, LIMRA, found that nearly one third of U.S. households currently have no life insurance, the highest level in more than forty years.

Reality Check

The State Farm® survey also found that because of the challenging economy, more than half of Americans are now focused solely on protecting what they have versus working to achieve their financial dreams. When asked to choose what best described their current financial situation, just 39 percent said they were working to grow what they have to achieve their financial dreams. However, the majority (52 percent) said they were working to protect what they have to break even.

“Today, more Americans are struggling with job losses, pay cuts and other financial setbacks. These factors amplify feelings of anxiety and create a greater need to ensure the security of loved ones,” said Professor Mary Quist-Newins, State Farm Life Insurance Chair for Women and Finance at The American College. “Women in particular appear to be especially silent on this topic and this is troubling when increasing numbers of women are becoming primary income earners for their families.”

First Steps

State Farm offers the following suggestions for couples who struggle with discussing finances and life insurance:

• Make A Plan. It can be empowering for couples to agree on goals and steps towards achieving a more secure future. For couples experiencing severe economic setbacks, it can be reassuring to have a strategy in place to get back on their feet financially and to prepare for the unexpected.
• Start Small. Often couples may feel the gap is too great between what they have to work with financially today versus what they would like to have in the future. But starting with small steps – such as getting educated about life insurance basics – can set the stage for follow-on steps later.
• Consult an expert. Bringing in a knowledgeable outside perspective can make the process of discussing life insurance easier and less stressful. These experts have experience guiding the conversation and answering questions. This can help avoid misunderstandings and unneeded stress.

State Farm has 17,800 insurance agents across the country. State Farm agents can take the stress out of life insurance by simplifying the process and by helping families select the coverage that fits their needs and budget. For more information or to find an agent, visit www.statefarm.com.

About the Survey

This survey was commissioned by State Farm Life Insurance Company to gauge attitudes around life insurance and the factors that influence those attitudes. The survey was conducted by KRC Research and was a national random digital dial telephone survey of 1,001 adults ages 18 and older within the United States. Interviews were conducted by telephone between Aug. 13 – 18, 2010. The estimated margin of error is +/- 3.1 percentage points for the entire sample and is higher among subgroups.

State Farm Life Insurance Company (Not licensed in MA., N.Y. or WI.);

State Farm Life and Accident Assurance Company (Licensed in N.Y. and Wis.);

Home Office, Bloomington, IL.

State Farm International Life Insurance Company Ltd.

Aurora, Ontario

About State Farm®:

State Farm insures more cars and homes than any other insurer in the U.S., is the leading insurer of watercraft and is also a leading insurer in Canada. Our 17,800 agents and more than 68,000 employees serve 81 million policies and accounts – more than 79 million auto, fire, life and health policies in the United States and Canada, and nearly 2 million bank accounts. State Farm Mutual Automobile Insurance Company is the parent of the State Farm family of companies. State Farm is ranked No. 34 on the Fortune 500 list of largest companies. For more information, please visit statefarm.com® or in Canada statefarm.ca®.

About KRC Research

KRC Research is a leader in communications research. Our ability to use research to improve communications outcomes—from public relations to public affairs to advertising—sets us apart from traditional research firms, as does our approach, which is creative, practical and fast. Our specialties include research among hard-to-reach audiences, research to drive media attention, brand and reputation research and public policy research. KRC’s clients include Fortune 500 corporations, trade associations and non-profits. Visit our website at www.krcresearch.com.

SOURCE State Farm

http://www.wholesaleinsurance.net/

Sept 24, 2010 (PR-USA.net)- “For us, this comes as good news, since we have approved 15 new members in 2010 and 9 the last three months. Clearly people are returning to the market and this is even better news for consumers who have a desire to obtain market value for an existing policy in the settlement market,” said LISA Executive Director Doug Head. Today, LISA represents 132 life settlement companies. Since the financial market crash of 2008, investment interest had reduced market expansions and LISA membership had been reduced, but is now growing again.

Sep 08, 2010 (Close-Up Media via COMTEX) – Lower income and less educated workers lag behind in the understanding and purchasing of life insurance than employees with higher household income and education, according to a recent national survey by The Hartford Financial Services Group.

The Hartford’s national survey of full-time workers showed employees with a high school education had the lowest level of understanding of life insurance and were least likely to sign up for this benefit (65 percent) compared to workers with a college degree. Thirty percent of workers with only a high school education said they completely understand life insurance.

Survey respondents with a household income of less than $50,000 were least likely to completely understand life insurance (29 percent) and were least likely to sign up for this benefit (64 percent). The average earnings for a full-time U.S. worker is nearly $38,500, which translates to a considerable segment of the employee population that would fall into this category, noted Ron Gendreau, executive VP, The Hartford’s Group Benefits.

“We are concerned that many working Americans are putting their family’s financial security at risk. No matter what your income level, you can benefit from life insurance,” Gendreau said. “We’re encouraging all employees to get up-to-speed on the protection this month – Life Insurance Awareness Month.”

The overall number of workers signing up for life insurance benefits increased from 64 percent in 2009 to 69 percent in 2010. Women showed the biggest jump in participation, going from 60 percent last year to 69 percent this year. Men increased their participation by two percentage points to 70 percent in 2010.

The Hartford’s survey found Generation Y (ages 18-29) had the lowest level of life insurance understanding and participation compared to Generation X (ages 30-44) and Baby Boomers (ages 45-65). 64 percent of Gen Y said they completely or mostly understand life insurance compared with 77 percent Gen X and 79 percent of Boomers. Gen Y had a 64 percent participation rate compared to 70 percent for Gen X and 71 percent for Boomers.

The Hartford recently enhanced its group life coverage by offering expedited payment of death benefits. In this newpayment process, beneficiaries who use funeral planning services provided by Everest Funeral Planning may receive death benefits in as little as 48 hours from the date of death. The death benefit may be expedited in instances where the insured died from natural causes and the cause of death is not being investigated.

For full details on Hartford Financial Services Group (HIG) HIG. Hartford Financial Services Group (HIG) has Short Term PowerRatings at TradingMarkets. Details on Hartford Financial Services Group (HIG) Short Term PowerRatings is available at This Link.

The nonprofit LIFE Foundation has joined forces with more than 100 of the nation’s top life insurance companies in an effort to increase awareness among Americans. Life Insurance Awareness Month (LIAM) was created in 2004 as an industry-wide effort held annually during the month of September.

“My father never thought he’d die at such a young age, but he loved his family enough to expect the unexpected,” said Bibb. “His life insurance was his legacy of love to our family, allowing us to carry on with our lives and to continue living. Sometimes the worst happens and thankfully for my family, my father had planned ahead.” —Leslie Bibb, LIAM Spokesperson

In addition to featuring actress Leslie Bibb as the national spokesperson for Life Insurance Awareness Month, LIFE’s theme for the 2010 campaign will be the “Wonders of Life,” a theme first introduced during LIAM 2009.

“The ‘Wonders of Life’ theme is all about making sure your family will have the kind of life you always hoped they’d have, even if you’re not around to witness it,” said Marvin H. Feldman, CLU, ChFC, president and CEO of the LIFE Foundation.

LIMRA International reported that 68 million American adults have no life insurance and among those with coverage, most have far less than experts recommend.

According to a 2008 LIMRA study:

• 15 percent of husbands and 28 percent of wives have no life insurance.
• 6 million households (10 percent of families with children under 18) have no life insurance or term life insurance protection.
• The percentage of families with dependent children that admit they’ll have immediate trouble with everyday living expenses is 22 percent.

If you are not sure you have adequate coverage, please contact an Insurance Advisor at Wholesale Insurance who can help you safeguard your family’s financial future.

ARLINGTON, Va., and WINDSOR, Conn., Aug. 30 /PRNewswire/ — Despite the fact that most American families have less to fall back on financially than when the economic downturn began, ownership of individual life insurance has hit a 50-year low, according to a new LIMRA study.

The Trends in Life Insurance Ownership study, conducted every six years by LIMRA, found that only 44 percent of U.S. households have individual life insurance. The number of U.S. households that have no life insurance whatsoever is growing.  Today, 30 percent of households (35 million) have no life insurance coverage, compared to 22 percent of households in 2004.  Among households with children under age 18, which arguably have the greatest need for life insurance, 11 million have no coverage.

“Clearly, more American families are living on the edge — surviving paycheck to paycheck — and, as our new study suggests, too many without the safety net that life insurance provides,” said Robert Kerzner, CLU, ChFC, president and CEO of LIMRA, LOMA, and LL Global.  ”The numbers tell a grim story.  Today, there are 11 million fewer American households covered by life insurance compared with six years ago.  A majority of families either have no life insurance or not enough, leaving them one accident or terminal illness away from a financial catastrophe for their loved ones.”

Families Focusing on Other Financial Priorities in Difficult Times

More than 40 percent of Americans say a major reason they have not bought more life insurance is because they have other financial priorities right now, such as paying off debt or saving for retirement.  However, the drop in life insurance ownership is not because families are not feeling vulnerable.   Among households with children under age 18, four in 10 say they would have immediate trouble meeting everyday living expenses if the primary breadwinner died today. Another three in 10 would have trouble keeping up with expenses after several months.

Record Number of Americans See Need for Life Insurance

Half of households feel they need more life insurance — the highest level ever.  Moreover, 24 percent of households with children under age 18 want to speak with a financial professional about their life insurance needs; and a quarter of all households plan to buy life insurance in the next year.  According to LIMRA’s study, life insurance beat out all other sources of financial assets or income that Americans expect to use to help pay bills and to maintain their lifestyle in the event of the primary wage earner’s death.

“With so many families continuing to struggle financially, there has never been a more critical time for people to own an adequate amount of life insurance,” said Marvin H. Feldman, CLU, ChFC, president and CEO of the LIFE Foundation. “This study shows that Americans place great value on the need for protection and half of all families recognize that they need more life insurance than they have, and that’s good news. Now they need to take the next step, and get the coverage they lack before it’s too late.”

Families Don’t Know Where to Turn for Help

About one in four middle-market households admit they don’t know how to obtain or reach their financial goals, including buying life insurance.  One of the biggest obstacles is lack of information.  Almost eight in 10 U.S. households currently do not have a personal life insurance agent or broker to turn to and most of them say they never did.  Most individual life insurance policies are sold by insurance agents and many Americans want to keep buying in this manner.  For instance, 60 percent of Baby Boomer households prefer to buy life insurance face-to-face.  Younger generations say they also are interested in gathering information about life insurance online and at their place of work.

“As an industry, we need to reach out to consumers and educate them about the various ways they can purchase life insurance,” said Mr. Kerzner of LIMRA.  ”Whether they buy from an agent, get coverage through their employer, or make an online purchase, the important thing is that they get the coverage they need to protect their loved ones.”

Added Mr. Feldman of the LIFE Foundation, “September is Life Insurance Awareness Month, the one time each year when the insurance industry comes together to remind Americans of the need to include life insurance in their financial plans. Hopefully, these findings will help us get people’s attention and serve as a wake-up call that now is the time to take action.”

For more information about Life Insurance Awareness Month, please visit www.lifehappens.org/liam.  To view the 2010 LIAM Fact Sheet and other resources, please visit LIMRA’s Web site at http://www.limra.com/LIAM/?Lang=EN&Region=NA.

About LIMRA

LIMRA is a worldwide research, consulting and professional development organization that helps more than 850 insurance and financial services companies in 73 countries increase their marketing and distribution effectiveness. Visit LIMRA atwww.limra.com.

About LIFE

The Life and Health Insurance Foundation for Education (LIFE) was founded in 1994 in response to the public’s growing need for information and education on life, health, disability and long-term care insurance. LIFE also seeks to remind people of the important role insurance professionals perform in helping families, businesses and individuals find the insurance products that best fit their needs. To learn more about these topics, please visit www.lifehappens.org.

Compare affordable term life insurance rates: http://www.wholesaleinsurance.net/

DUBLIN–(BUSINESS WIRE)– Research and Markets has announced the addition of the “2010 Trendology: U.S. Life Insurance Carriers” report to their offering.

The 2010 Trendology report on the U.S. Life Insurance Carriers industry characterizes the industry in three descriptive methods: qualitative analysis, quantitative data and lists of major industry players. The written analysis includes financial issues, technology issues, human resources issues, supplier issues, consumer issues, government regulations, global factors, major industry news highlights, major earnings and profit reports, major mergers and acquisitions, and our exclusive industry SWOT analysis (industry internal strengths, internal weaknesses, external opportunities and external threats). Along with the trend analysis, quantitative data includes five-year trends (2007-2011) on number of establishments, industry and number of employees.

This data is developed through Trendology’s economic model using regression analysis based on historical industry trend data. Forecasts are available for 2011. Quantitative data for current year 2010 is provided for the U.S., 50 U.S. states, and 900 metro areas. The report also lists up to ten of the industry’s major players, their current sales and stock symbol (for public companies). Color charts and graphs run throughout the report to highlight trends and are ready for presentations and displays. Links to Internet sources in the report are useful for additional research and data gathering.

Key Topics Covered:

Economic Outlook Scenario Definitions

Industry Definition and Related Industries

U.S. Census Categories

SWOT Analysis

Written Analysis – Financial/Industry Statistics

Written Analysis – Forecasts

Major Industry Players

2009 U.S. States

Definitions and Terms

For more information visit http://www.researchandmarkets.com/research/603bf2/2010_trendology_u